JBA departures
SAM949 USAF G5 sw
SAM916 USAF C-40B west
VV700 US Navy G5 ne heading across the pond
SAM931 USAF G5 just up and sw
BOXER46 USAF C-40B departed Hickam AFB, Oahu after arriving on 0722-ground stop at Travis AFB, CA after a JBA depart.
morning
Economic Schedule for Week of July 25, 2021
The key report this week is the advance estimate of Q2 GDP. Other key reports include June New Home Sales, Personal Income and Outlays for June, and Case-Shiller house prices for May. For manufacturing, the July Richmond and Dallas Fed manufacturing surveys will be released. The FOMC meets this week, and no change to policy is expected.
Monday, July 26th -
10am Home Sales for June from the Census Bureau. The consensus is for 800 thousand SAAR, up from 769 thousand in May.
10:30 AM: Dallas Fed Survey of Manufacturing Activity for July.
Tuesday, July 27th -
8:30 AM: Durable Goods Orders for June from the Census Bureau. The consensus is for a 2.1% increase in durable goods orders.
9:00 AM: S&P/Case-Shiller House Price Index for May.
The consensus is for a 16.3% year-over-year increase in the Comp 20 index for May.
9:00 AM: FHFA House Price Index for May. This was originally a GSE only repeat sales, however there is also an expanded index.
10:00 AM: Richmond Fed Survey of Manufacturing Activity for July. This is the last of the regional surveys for July.
10:00 AM: The Q2 Housing Vacancies and Homeownership report from the Census Bureau.
Wednesday, July 28th -
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
2:00 PM: FOMC Meeting Announcement. No change to policy is expected at this meeting.
2:30 PM: Fed Chair Jerome Powell holds a press briefing following the FOMC announcement.
Thursday, July 29th -
8:30 AM: Gross Domestic Product, 2nd quarter (advance estimate), and annual update. The consensus is that real GDP increased 8.6% annualized in Q2, up from 6.4% in Q1.
8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for a decrease to 400 thousand from 419 thousand last week.
10:00 AM: Pending Home Sales Index for June. The consensus is for a 0.5% increase in the index.
Friday, July 30th -
8:30 AM ET: Personal Income and Outlays, June 2020. The consensus is for a 0.3% decrease in personal income, and for a 0.7% increase in personal spending. And for the Core PCE price index to increase 0.6%.
9:45 AM: Chicago Purchasing Managers Index for July.
10:00 AM: University of Michigan's Consumer sentiment index (Final for July). The consensus is for a reading of 80.8.
https://www.calculatedriskblog.com/2021/07/schedule-for-week-of-july-25-2021.html
Court Denies Russia in Interim Ruling Over Ukraine Claims
The European Court of Human Rights late Friday denied Russia’s request to apply interim measures over alleged violations of human rights conventions by Ukraine, according to the court’s website. Russia on Thursday demanded the court take measures in accordance with Article 39 of its rules. After Friday’s move, the application will be considered at a later date.
Russia is seeking to make Ukrainian authorities abolish restrictions on the use by the country’s Russian-speaking population of their native language in schools as well as in the media and on the internet, and to end what Russia called a water blockade of Crimea. The court said the situation as described by Russia doesn’t involve the risk of causing irreparable damage. In the complaint filed to the Strasbourg, France, based court, Moscow accuses Ukraine of causing civilian deaths and of illegal detentions and mistreatment -- including during protests in Kyiv and Odessa in 2014. Further, it claims Ukraine was responsible for the 2014 downing of Malaysian Airlines flight MH-17 as it failed to close its airspace.
Russia also claims Ukraine suppresses freedom of speech and dissent, and discriminates against its Russian-speaking population and Russian businesses; charges Ukraine with causing injuries and property damage with shelling in border areas; and alleges Ukraine deprives Crimea of water by cutting off the flow of the Northern Crimean Canal.
https://www.bnnbloomberg.ca/court-denies-russia-in-interim-ruling-over-ukraine-claims-1.1632542
Stock Bulls Look Toward $17 Trillion Burning a Hole in Pockets
In the stock market, the refusal of retail investors to back down from every macro threat has become the only story. When will it end? Judging by the size of all the pools of cash lying around, it could be a while.
Among all the economic stories of the pandemic, the one about money piling up in people’s accounts has been the most significant in the stock market, where the S&P 500 just notched its seventh gain in nine weeks. Money market accounts, viewed in some circles as a “dry powder” reserve for equity deployment, sit at just under $4.5 trillion. A more obscure balance, the Federal Reserve’s count of money on deposit with commercial banks, has risen 33% from 2019 to $17 trillion. While none of the money is completely unencumbered and professionals tend to hate the concept of “cash on the sidelines,” something is arming the day-trader cadres who seem bent on letting no market selloff last more than 24 hours. Take Monday, for example, when fears the delta variant would upend progress sent the S&P 500 down as much as 2.2%. Dip buyers ran to the rescue then and the rest of the week, sending the S&P 500 higher by almost 2% through Friday, despite virus cases still spiking.
How powerful is the retail cannon? On Monday alone, they bought a record $2.2 billion worth of equities, with the biggest exchange-traded fund tracking the S&P 500, ticker SPY, alone notching an all-time high of $482 million in retail purchases, according to Vanda Research. An analysis from DataTrek Research showed that Google searches in the U.S. that day for the phrase “dow jones” the term most associated with stock market investing, according to the firm spiked when stocks declined quickly, peaking at 1 p.m. in New York. “It’s almost like investors are seasoned to say, stocks are down, it’s got to be a buying opportunity,” said Gene Goldman, chief investment officer at Cetera Financial Group. “Part of that is because there’s no other game in town right now. You look at bond yields so low, cryptocurrencies struggling, other parts of the market are not that great.” The unending appetite for stocks led equity ETFs to break their annual record in April, and the pace hasn’t slowed since. In July, the products have already taken in more than $15 billion, helping fuel total ETF inflows to the brink of a full-year record, with more than five months to go.
Still, other measures of retail prowess show a mixed picture. Data from Charles Schwab shows that the percentage of cash in their clients’ brokerages accounts in June fell to 10.5%, the lowest since 2018. Retail money fund balances still have $1 trillion versus $643 billion in 2015, according to DataTrek, with analysts calculating that there’s $400 billion in “buy the dip” cash ready for the next drawdown. Plus, retail-favorite Robinhood has 13 million more funded accounts than it did before the pandemic.
https://www.bnnbloomberg.ca/stock-bulls-look-toward-17-trillion-burning-a-hole-in-pockets-1.1632548